quarta-feira, agosto 27, 2008

The Asian Development Bank is moving to help Pacific countries cushion the impact of soaring global fuel and food prices.

The ADB says if high world prices cut real income for poorer households, by as much as 10 percent, then 1.4 million Pacific islanders will slip below the poverty line by the end of the year.

The ADB is providing $US 225,000 to help developing nations in the region fully assess the impact of rising prices, which have left some with double digit inflation, power shortages and a struggling economy.

And the bank has called on East Timor and Papua New Guinea to use their higher government revenue from mining and oil to help those in need.